Once upon a time the poster child of the hot, can’t-miss new industry of consumer 3D printing, MakerBot has been on a long, slow decline ever since Stratasys vastly overpaid for it in 2013. Founding CEO Bre Pettis took off after pocketing millions, and then his replacement, Jenny Lawton, also bailed. And now, after failing to make the company relevant again by diversifying it into education and enterprise, CEO Jonathan Jaglom, installed by his dad, Stratasys’s chairman of the board, has called it quits.
Jaglom’s tenure was marked by highs, and mostly lows. Stratasys’s stock soared after buying MakerBot, but massive problems with the launch of new MakerBot printers in 2014 led to a plummeting stock price and shareholder lawsuits. At one time also the poster child for made-in-Brooklyn innovation, MakerBot even gave up on local manufacturing, eventually outsourcing the work to China. That came just over a year after the much-hyped opening of a new Brooklyn manufacturing plant. In any case, the outgoing CEO is being replaced by MakerBot president Nadav Goshen. Jaglom is, yes, leaving to spend more time with his family. DT